IN BRIEF: NetScientific secures funding to help Q-Bot home insulation

NetScientific PLC - London-based life sciences and sustainability technology investment firm - ...

Alliance News 15 June, 2022 | 11:32AM
Email Form Facebook Twitter LinkedIn RSS

NetScientific PLC - London-based life sciences and sustainability technology investment firm - Secures GBP1.6 million in funding. Money raised via investment round will fund its next stage of growth, company says. "The additional funds will allow Q-Bot Ltd to accelerate the rollout of its unique patented solution of using robots to apply underfloor home insulation across the UK, and meet growing overseas demand for Q-Bot's solution," NetScientific explains. Q-Bot is an AI company in which NetScientific has a 19% direct stake since December, following a GBP2.8 million deal with Q-Bot.

"Q-Bot's robotics as a service offering is at the right place and right time, providing a massively scalable solution not only to the transition to a low-carbon economy, but to the current crisis in growing households energy bills and energy security," says Ilian Iliev, NetScientific chief executive officer and board member at Q-Bot.

Current stock price: 80.25 pence, up 1.6% on Wednesday

12-month change: down 34%

By Tom Budszus; tombudszus@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
NetScientific PLC 66.00 GBX 0.00 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.